(a) In this section:
(1) “Base year amount” means the amount of hotel-associated revenue collected in a project financing zone during the calendar year in which a municipality designates the zone.
(2) “Hotel-associated revenue” means the sum of:
(A) state tax revenue collected in a project financing zone from all hotels located in the zone that would be available to the owners of qualified hotel projects under § 151.429(h) if the hotels were qualified hotel projects, excluding the amount of that revenue received by a municipality:
(i) under § 351.156 or 351.157 in connection with a qualified hotel located in the zone that exists on the date the municipality designates the zone, except as provided by Paragraph (B); or
(ii) under § 351.102(c) for a hotel project described by § 351.102(b) and located in the zone that exists on the date the municipality designates the zone; and
(B) tax revenue collected from all permittees under Chapter 183 at hotels located in the zone, excluding revenue disbursed by the comptroller under § 183.051(b).
(3) “Incremental hotel-associated revenue” means the amount in any calendar year by which hotel-associated revenue, including hotel-associated revenue from hotels built in the project financing zone after the year in which a municipality designates the zone, exceeds the base year amount.
(4) “Project financing zone” means an area within a municipality:
(A) that the municipality by ordinance or by agreement under Chapter 380, Local Government Code, designates as a project financing zone;
(B) the boundaries of which are within a three-mile radius of the center of a qualified project;
(C) the designation of which specifies the longitude and latitude of the center of the qualified project; and
(D) the designation of which expires not later than the 30th anniversary of the date of designation.
(5) “Qualified project” means:
(A) a convention center facility or venue and any related infrastructure; or
(B) a multipurpose arena or venue that includes a livestock facility and is located within or adjacent to a recognized cultural district, and any related infrastructure, that is:
(i) located on land owned by a municipality or by the owner of the venue;
(ii) partially financed by private contributions that equal not less than 40 percent of the project costs; and
(iii) related to the promotion of tourism and the convention and hotel industry.
(6) “Venue” and “related infrastructure” have the meanings assigned by § 334.001, Local Government Code.